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Fighting your debt trap of triple-digit rate of interest loans that are payday

Fighting your debt trap of triple-digit rate of interest loans that are payday

Pay day loans are designed to be described as a short-term magic pill for folks who can not get old-fashioned credit. Nevertheless the loans are seldom really short-term, and borrowers usually have to take away a 2nd loan to pay back the initial. Unique correspondent Andrew Schmertz reports from South Dakota, where most are wanting to cap triple-digit rates of interest that numerous battle to spend.